Magnati enters into a partnership with Fils to elevate and drive sustainable finance and payments ahead of COP28

Abu Dhabi, 5th December 2023: Magnati, a leading payments solutions provider in the Middle East region, is accelerating its sustainability efforts, collaborating with Fils, a pioneering FinTech platform.

Magnati enters into a partnership with Fils to elevate and drive sustainable finance and payments ahead of COP28

Through this strategic collaboration, Magnati aims to provide its merchants with actionable environmental insights and promote green payments as part of its broader commitment to sustainable finance. Merchants will gain access to a suite of emissions calculator solutions and offset mechanisms, made possible through the collaborative efforts of Fils.

The alliance between Magnati, and Fils is not only a testament to the pioneering spirit of the financial, technological, and investment sectors but also supports sustainability efforts. This initiative aligns with the ambitious ‘Net Zero by 2050’ strategy, coinciding with the eve of COP28, and underscores the shared commitment to innovation and a sustainable future.

By integrating environmental considerations with digital finance, Magnati is taking concrete steps to contribute to a more sustainable and resilient world.

Ramana Kumar, CEO of Magnati, said: “As a prominent payments and technology company based in the UAE, Magnati recognises its responsibility in contributing to a sustainable planet through climate change finance. We are thrilled to announce our strategic partnership with Fils as we embark on a journey to identify and implement solutions that would contribute to net-zero ambitions. This collaboration underscores our commitment to providing climate-neutral payment services and reinforces Magnati’s commitment to sustainability.”

Nameer Khan, CEO of Fils, adds: “We are at a turning point in how finance can contribute to a sustainable world. Our collaboration with Magnati is more than just a partnership; it’s a leap towards a future where every financial service has a positive environmental impact.”

Customers of Magnati’s payment as a platforms will now have access to a variety of emissions calculator solutions and offset mechanisms, thanks to the seamless integration of Fils’ comprehensive platform. This initiative will enable businesses of all sizes in the UAE and the region to build products and embed customer journeys that promote transparent carbon calculations and offer opportunities to counterbalance their carbon footprint using reputable methods.

This partnership marks a significant milestone for the region demonstrating how collaboration and innovation can lead to meaningful change.

About Magnati

Magnati is a regional leader in the payment solutions industry focused on direct acquiring, issuer processing and acquiring processing.

Magnati provides government, merchant, and institutional clients with an intelligent payments’ platform, using next generation technology to deliver improved experiences and increased efficiency. The Magnati brand is charged with energy and potential and is set to transform payments into possibilities.

Headquartered in Abu Dhabi, Magnati’s expertise and relationships provide a platform for Magnati to attract international partners, while setting a new standard for innovation and delivery in the payments industry.

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About Fils

Fils is an enterprise-grade digital infrastructure that enables businesses of all sizes to embed sustainable and climate action into their business model and customer journeys across industries. Leveraging the latest, groundbreaking fintech innovation, Fils fintech aims to transform the business landscape and bring about a better world for all, with every transaction to every action contributing to a thriving planet. Backed by some of the leading names in the financial services industry, Fils is growing rapidly, thanks to its ability to offer a powerful API that seamlessly embeds sustainability into the digital payment infrastructure online, in-store and on-the-go with QR technology – making it easy for any institution to play its part in creating a better future for all. 

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